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they leave out the earned income tax credit, for example. these things are so -- >> you have to look at the report that says all of that stuff. >> we did. that looks much better. jared, let me ask you this. i listened to the president's so-called solution today. he wants to raise the minimum wage, right? he wants more infrastructure spending. he wants to end tax loopholes. he wants more spending. can i just say how totally boring that is? that's all he ever says. the guy either needs, a, a new speech writer or, b, a new policy or preferably both because he can't keep standing up with the same four silly bullets and say that that is going to improve the american economy which is producing the worst economic recovery in the modern era. >> i wouldn't expect you to -- i wouldn't expect you to like three of those four, but the fact that he has consistently talked about lowering the corporate tax -- >> but he didn't talk about that today. >> he did. >> he just talked about closing loopholes. >> he's referencing his plan to lower the corporate rate
they leave out the earned income tax credit, for example. these things are so -- >> you have to look at the report that says all of that stuff. >> we did. that looks much better. jared, let me ask you this. i listened to the president's so-called solution today. he wants to raise the minimum wage, right? he wants more infrastructure spending. he wants to end tax loopholes. he wants more spending. can i just say how totally boring that is? that's all he ever says. the guy either...
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nokia owes up to $3.4 billion in taxes. they earlier said they owed $2.4 million. it's quite a big jump. we'll keep our eyes on that. anyway, that's a big bill if it's true. >>> eads, meanwhile, has outlined a restructuring plan which will enhance its business competitive. stephane is in paris with the reaction and the detail. stephane. >> and among the reactions, the french labor minister says it's unacceptable for eads to get overall stat in france. he said the large company and profitable group like eads should have a duty to ensure that there are no forced layer. the comments came just a few hours after eads announced 5,800 job cuts. restructuring will affect roughly 2,000 jobs in germany, 1,260 in france, 567 in spain and 550 in the united kingdom. in france, eads is going to sell its paris headquarter, since the headquarter of the company has been moved. the plan will be implemented over the next three years. some of the terms will be offered in terms of mobility. but eads warned this morning that there could be additional job cuts in the future should the bu
nokia owes up to $3.4 billion in taxes. they earlier said they owed $2.4 million. it's quite a big jump. we'll keep our eyes on that. anyway, that's a big bill if it's true. >>> eads, meanwhile, has outlined a restructuring plan which will enhance its business competitive. stephane is in paris with the reaction and the detail. stephane. >> and among the reactions, the french labor minister says it's unacceptable for eads to get overall stat in france. he said the large company...
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inflation is a tax. you lower the inflation rate, that's a cut. oil is a tax. i know the retail stuff is disappointing and dominic's reporting is accurate. on the other hand, the economy is growing at 2%, 2.5%. profits are rising, interest rates are low. you're not going to have the fed slow down in bond buying until march. that's my message from today's retail sales. >> i agree with you. the last part you mentioned is the most important of all. what's really spurred the stock market has been janet yellen. we're going to get a continuation of bernanke's policies and at least for the near term possibly even an acceleration -- at least versus expectations. people who thought taper was going to be in september, that obviously didn't happen. i don't think taper is happening imminently. spring at the earliest. that's enough probably to keep assets going. having said that, you want to be in careful places. go-go momentum stocks have seen drops -- >> we should be going through and parsing this out. but i'm an index guy. i know i'm not smart enough -- dom dominic, the
inflation is a tax. you lower the inflation rate, that's a cut. oil is a tax. i know the retail stuff is disappointing and dominic's reporting is accurate. on the other hand, the economy is growing at 2%, 2.5%. profits are rising, interest rates are low. you're not going to have the fed slow down in bond buying until march. that's my message from today's retail sales. >> i agree with you. the last part you mentioned is the most important of all. what's really spurred the stock market has...
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when it comes to the tax credit of taxpayers out there, when a tax credit gets invested into the solar system it actually gets a return. there is actually a benefit. >> okay. and of course, you know, if the extrapolation of this analogy has gone bankrupt and you say that's absolutely off the table. if the subsidies were removed, what would happen to your company? >> if they were removed today, we would struggle. we do need it today to get to scale. but that is not actually a fair question. if you were to do that you would have to take subsidies away to different tax advantages that the fossil fuel industry has. if you were to take away those benefits for them, the cost of electricity would go up dramatically. >> you're saying that it's a risk that not just your company faces but every company? it is the same risk across the board? >> well, today, energy is subsidized. as time goes on, what we do know is our cost is coming down and the cost of fossil fuels continues to go up. the penetration of solar is only less than 1%. think of how much cost reduction will occur when you start gettin
when it comes to the tax credit of taxpayers out there, when a tax credit gets invested into the solar system it actually gets a return. there is actually a benefit. >> okay. and of course, you know, if the extrapolation of this analogy has gone bankrupt and you say that's absolutely off the table. if the subsidies were removed, what would happen to your company? >> if they were removed today, we would struggle. we do need it today to get to scale. but that is not actually a fair...
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they are a tax cut for consumers. they are a tax cut for businesses. that is good for the economy and, therefore, that's good for the stock market. >> agreed, larry, but we had a $4 pop in crude oil. so i think they cut a lot of shorts on hand. it's all about this pipeline, this connection from cushing down to port arthur coming online in january. it caught these shorts on the run. now we're seeing this movement up. lower prices are better for the consumer but right now it seems like we're going test out and see if we can get back to 100. >> that's going change. that's just technical stuff. that's pipeline stuff. that will change and get straight end out. whether the keystone gets built or not is a different question. look, i don't think -- scott, i don't think this is goldilocks because to me goldilocks was 4% growth and 2% inflation. it is kind of mini, mini goldie lock, 2, 2.5% growth and 0% inflation. in that environment, long run investors which is the only kind of investing makes stones me, hang in there, ignore these blips and stay with it becau
they are a tax cut for consumers. they are a tax cut for businesses. that is good for the economy and, therefore, that's good for the stock market. >> agreed, larry, but we had a $4 pop in crude oil. so i think they cut a lot of shorts on hand. it's all about this pipeline, this connection from cushing down to port arthur coming online in january. it caught these shorts on the run. now we're seeing this movement up. lower prices are better for the consumer but right now it seems like...
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reform that would broaden the base and lower the tax rates. i can think of nothing that would help the economy more. what do you think about this? >> nothing in this near-term deal. there is an appetite for what you described particularly on the business side of the equation on corporate taxes. the white house has a plan to do precisely what you described, maybe not get the rate down the way you'd like it but they do have a plan. here's something i'd like to ask the representative about. i understand that you want to -- that there are republicans up there who want to keep the appropriations levels to where they are already. they're not that interested in this new deal. and i heard you criticizing the sequester in terms of the economic impacts. but my question is, it seems to me -- not trying to play gotcha here. just observing things like how rogers says, we can't write bills to these levels of 967. we have to get rid of the sequester is we're going to be able to actually successfully appropriate. what about that? >> dave, i'm going to give yo
reform that would broaden the base and lower the tax rates. i can think of nothing that would help the economy more. what do you think about this? >> nothing in this near-term deal. there is an appetite for what you described particularly on the business side of the equation on corporate taxes. the white house has a plan to do precisely what you described, maybe not get the rate down the way you'd like it but they do have a plan. here's something i'd like to ask the representative about....
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tax and spend. if i were the republicans i would do nothing. let the sequester happen. >> what are we on now, three years of rollicking with our fiscal policy. it's interesting just how mum everyone's been as this week wrapped up. so we'll see what happens in the coming days, but it's notable that there isn't a whole lot of speculation. i certainly -- i heard loud and clear what john just said. but beyond that, we don't know. >> well, i think there's no appetite for a shutdown. i agree. but jimmy, i don't know, i'm not sure i really understand the politics here from the republicans side. talk to me. talk to me about this because they have the hand. they hold the ace of the gop. why do they have to mess around with this kind of package? >> since 2009, two amazing things have happened. one, somehow we got almost all of the bush tax cuts extended. that's pretty good and somehow we have had to back-to-back years with the declining spending that's the first time that happened since the korean war. >> whi
tax and spend. if i were the republicans i would do nothing. let the sequester happen. >> what are we on now, three years of rollicking with our fiscal policy. it's interesting just how mum everyone's been as this week wrapped up. so we'll see what happens in the coming days, but it's notable that there isn't a whole lot of speculation. i certainly -- i heard loud and clear what john just said. but beyond that, we don't know. >> well, i think there's no appetite for a shutdown. i...
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democrats don't want to raise taxes. how are we going to find the savings? with that in mind, my best guess is that we don't have another shutdown. >> how do you avoid the shutdown? >> a continuing resolution that keeps sequestration in place. another short term. we've done it 14 times. we can fund the government through a continuing resolution. >> morris, is that the back stop there? >> yeah, i'm not for sure it's going to work this time. there is mounting pressure in the business community as my colleague knows. there is the pressure of mid term election as a lead up to the next presidential election and i would say i would read the tea leaves. the way they're getting together on the farm bill is an indication republicans want to play ball a little bit more. those are farm bills. farmers are their constituents. i think there's a con volution of things with the re-election and mid term. the presidential election is very important in this lead up, particularly since the fumble with obama care. the republicans may see an opening and may be a reason for them t
democrats don't want to raise taxes. how are we going to find the savings? with that in mind, my best guess is that we don't have another shutdown. >> how do you avoid the shutdown? >> a continuing resolution that keeps sequestration in place. another short term. we've done it 14 times. we can fund the government through a continuing resolution. >> morris, is that the back stop there? >> yeah, i'm not for sure it's going to work this time. there is mounting pressure in...
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taxes and health care. it made no difference. >> if you do -- i know you don't -- but you know that obama care's at 57%. >> forget it. >> if that was the issue, it was just obama care, you wouldn't have gotten 51%. but what elected -- what spawned the tea party, what spawned that 2010 route was the way the democrats passed obama care where you took 20% of the economy without a single republican vote. you even lost ted kennedy's seat in the process as it was happening, had to do reconciliation. it was ugly, that's why we're sitting here in this poisonous atmosphere. and look what we're dealing with with obama care. do you think you should have done it that way? >> but the fact of the matter is, we were also in the deepest recession anyone here has experienced. >> can i ask one question? >> which leads to anger and fear and reaction against all of those that they felt responsible had to put them in that trick bag. >> we are up against a hard break with the commercial. but, leader, would you stay for the next
taxes and health care. it made no difference. >> if you do -- i know you don't -- but you know that obama care's at 57%. >> forget it. >> if that was the issue, it was just obama care, you wouldn't have gotten 51%. but what elected -- what spawned the tea party, what spawned that 2010 route was the way the democrats passed obama care where you took 20% of the economy without a single republican vote. you even lost ted kennedy's seat in the process as it was happening, had to...
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i would rather see wage subsidies, direct government wage subsidies or some kind of negative income tax which is totally transparent but unfortunately, we do not have the time this evening to pursue all these options. pardon my skepticism about the seiu, however. i'm still going to stay with that. >>> now, if you tune in to nbc's "meet the press" this sunday, i will be talking about this with host david gregory. "meet the press" airs at 9:00 a.m. eastern time. many of the nbc stations. please check your local listings. >>> all right. many thanks to carrie wof ford and rick berman. appreciate your points of view. >>> the clock is really ticking on obama care. we know millions of americans have already lost their insurance effective january 1st because of obama care. for those people and anyone else who wants to sign up for new policies and be covered on new year's day, the deadline is actually december 23rd. that's not far away. doesn't say much about the sticker shock of the premiums, even speaker john boehner experiencing that today. take a listen. >> my health insurance premiums are g
i would rather see wage subsidies, direct government wage subsidies or some kind of negative income tax which is totally transparent but unfortunately, we do not have the time this evening to pursue all these options. pardon my skepticism about the seiu, however. i'm still going to stay with that. >>> now, if you tune in to nbc's "meet the press" this sunday, i will be talking about this with host david gregory. "meet the press" airs at 9:00 a.m. eastern time. many...
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sales tax, property tax? >> sales tax and property tax. what happens is -- >> there's no income tax. >> yeah, no income tax. we're in a position working hard to compete. no income tax, right to work state. low-business tax and more businesses don't pay it every year. companies like hertz are moving down there because they can solve their customer needs because they don't pay taxes. if they're in new york or connecticut, they'd have to pay. >> okay. so how will you replace the $2 billion? >> sales taxes. >> will they have to go up? >> no, i'm cutting taxes -- i've cut taxes every year. i've been governor three years, cut taxes basically 24 times. it's property taxes, business taxes, sales tax. we have all budget surplus, i walked in with a budget deficit, i now have a $1.2 billion surplus. we're making our economy the opportunity economy where, you know, if you want to build a business, you can -- and you want to get a job, you come to florida. >> your unemployment rate has dropped quicker than any other state, i know that. and you're now -
sales tax, property tax? >> sales tax and property tax. what happens is -- >> there's no income tax. >> yeah, no income tax. we're in a position working hard to compete. no income tax, right to work state. low-business tax and more businesses don't pay it every year. companies like hertz are moving down there because they can solve their customer needs because they don't pay taxes. if they're in new york or connecticut, they'd have to pay. >> okay. so how will you...
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rate might end up with more revenues that raising taxes? >> for the country as a whole, right. we can learn as a country they'll go to other countries if they don't -- >> we should talk about tax. >> all right. gord gordon, thank you. say hi to johnny. >>> when we come back, we have the numbers out at 8:15 eastern time from the jobs data. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] this december, experience the gift of unsurpassed
rate might end up with more revenues that raising taxes? >> for the country as a whole, right. we can learn as a country they'll go to other countries if they don't -- >> we should talk about tax. >> all right. gord gordon, thank you. say hi to johnny. >>> when we come back, we have the numbers out at 8:15 eastern time from the jobs data. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp...
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it seems like rahm emanuel is going to have issues regarding property taxes and raising property taxes, because they have a pretty big gaping deficit hole. do you have any advice or any issues that you think we can learn from on how you negotiate on a state level with respect to rahm emanuel on a city level? >> i think it is important to negotiate, to sit down with everyone, and we did. ultima ultimately, you put together a solution, and sometimes folks don't agree, but it has to be done for the common good, the everyday taxpayer, the person that gets up, raising kids, we want to make sure they come first. >> i tell you what. i recently governored the governors estate, my daughter had big shows, and always like in the haunted mansion, where the pictures are hung, the paint's a different color. we've had so many governors from otto to ryan to blagojevich, where they're taking these and leaving the mark. governor, i'm sure your picture will stand for a long time. >> all right. thank you. >> let's get to dominic chu. >> look at barnes & noble, because there's reports now that the s.e.c. i
it seems like rahm emanuel is going to have issues regarding property taxes and raising property taxes, because they have a pretty big gaping deficit hole. do you have any advice or any issues that you think we can learn from on how you negotiate on a state level with respect to rahm emanuel on a city level? >> i think it is important to negotiate, to sit down with everyone, and we did. ultima ultimately, you put together a solution, and sometimes folks don't agree, but it has to be done...
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i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a different fund if you need to. take the loss, put it in your pocket if you don't need it and carry it forward. tax law accounting is huge in investing. >> we've been out of the muni market for the past 14 to 15 months when munis started getting back over 5% we've been a buyer. we've been aggressively buying municipal bonds. >> rob morgan any opinion on that before we go, quickly? >> absolutely. i think having a portfolio for individual investor tilted more toward short end and rising rate environment makes sense. i think detroit bankruptcy spells trouble more for retirees on pension plans more for than muni bond investors. >> a
i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a...
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and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were doing it to try and increase entrepreneurial activity. i think the best way to do that is a capital gains tax, not income tax. so i think that was misplaced. and i think at a time when people were worried about inequality and equality, which was high on the political agenda, i think it was the wrong thing to do. >> it brings up a lot of issues about income equality. and we know the one thing that solved income equality is growth and jobs. growth and jobs. not entitlements, not redistribution, it's growth and jobs. and some of the efforts to do it the other way, to have the government orchestrate a shrinking of it -- >> fa
and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were...
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a tax. john harwood will explore that in the days ahead. >>> we've heard from fast woodworkers, economists on the debate. today an industry executive to tell us what it will really mean for his business. joining me, jamie richardson, vice president of white castle. thank you for being here. >> good to be with you, kelly. >> you say if we raise the minimum wage, president says from $7.25 an hour to, perhaps, $10 an hour. what the direct effect on white castle? >> groups pleading to raise the minimum wage to $15 an hour. to more than double the mandated minimum wage, it would be catastrophic for white castle, our team members and neighborhoods. we've been part of the cities we're at for more than 90 years now. >> can you give us the numbers, jamie? >> sure. we have 406 restaurants. we know that would result in closing more than 200 of those restaurants. the ones remaining would be glowing embers, dying stars. what we also know is it would cost thousands of jobs to take a starting wage and doub
a tax. john harwood will explore that in the days ahead. >>> we've heard from fast woodworkers, economists on the debate. today an industry executive to tell us what it will really mean for his business. joining me, jamie richardson, vice president of white castle. thank you for being here. >> good to be with you, kelly. >> you say if we raise the minimum wage, president says from $7.25 an hour to, perhaps, $10 an hour. what the direct effect on white castle? >>...
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you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones. >> do you remember the conference call that was the open rebellion against tim cook? it was withone of these things e i thought it was 1948 where stillwell had just lost china and now he's making a move. he did not lose china. >> we'll see. that fortune story has a lot of people talking about whether china mobile makes a big move in this direction, having not carried their phones till now. >> maybe samsung -- don't hear a lot about samsung having a revolutionary new phone. >> no, although they've got a lot of new patents, they're going to do the curve thing or
you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones....
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taxes, whereas the not for property guys are the ones receiving subsidies. as far as i'm concerned, money is money. the only difference in private and public money is ideological. you draw a line between the two. public money becomes purer -- >> but it's worth ten cents on the dollar. >> i don't disagree with you. >> you're one of the old democrats. you're looking around saying what am i. >> i don't -- by the way, it's sort of what we were talking about earlier with iran. i don't think it's a question of choosing one or the other. i think you need to have a healthy balance of both. but if you start off with a regulatory bias against the for profit sector. >> you do. >> i understand, i don't disagree. >> i'm appealing to you, stand up and be -- >> i'm sitting down -- >> i think bill clinton was a republican. are you sure he was a democrat? >> i have no idea. >> senator kerrey will be with us for the rest of the program. >> do you want to be called senator or governor? >> you can call me bob. >> he wants to be senator. don't call anyone governor. >> walking de
taxes, whereas the not for property guys are the ones receiving subsidies. as far as i'm concerned, money is money. the only difference in private and public money is ideological. you draw a line between the two. public money becomes purer -- >> but it's worth ten cents on the dollar. >> i don't disagree with you. >> you're one of the old democrats. you're looking around saying what am i. >> i don't -- by the way, it's sort of what we were talking about earlier with...
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frankly, we need comprehensive tax legislation. and if we got that, i think it would make us all more competitive. certainly help our business, i'm sure. but those two or three things, i think, are our headwinds right now. >> immigration reform, is that something important to you as well? >> very important. it is very important to us. we do bring in people. we need talented people. we need skilled workers regardless of where they come from. so getting some sort of immigration reform is important to us. >> frank freetdman, great to see you. thank you for joining us. >> appreciate it. >> my pleasure. >> thank you very much. >> we have about 40 minutes left to go before the closing bell. the dow now up about 174 points. 18 points or so on the s&p. it is sitting below the 1805 level that would put us back in the black for the week. >> while shoppers are hunting for holiday gifts, some retailers are shopping for a present that could last a whole year and a lot longer. a new ceo. we have that story coming up. >>> and one retailer not loo
frankly, we need comprehensive tax legislation. and if we got that, i think it would make us all more competitive. certainly help our business, i'm sure. but those two or three things, i think, are our headwinds right now. >> immigration reform, is that something important to you as well? >> very important. it is very important to us. we do bring in people. we need talented people. we need skilled workers regardless of where they come from. so getting some sort of immigration reform...
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it has very good tax treatment. >> do you leave a lot to your family? >> that's a very sensitive question, too sensitive to answer. >> i'm taking it all for me. kids, you're on your own. guys, thanks very much. >> that is a dangerous and growing inequality and lack of upward mobility that has jeopardized middle class america's basic market, that if you work hard you have a chance to get ahead. >> president obama this week blasting income inequality, but are his policies to blame. welcome to forbes on fox. let's go in focus with steve forbes and others. steve, have his policies helped or hurt income disparity? >> it's hurt. this is the most miserable recovery in american history. medium incomes are lower than they were five years ago, the uncertainty of obama care, the horrific tax code, less opportunity for people to rise up. >> rick, he is criticizing something that happened under his watch. >> yeah, here's the problem that i have. first of all, and john will love hearing me say this. i'm not sure that government is a big answer. >> we are all happy to
it has very good tax treatment. >> do you leave a lot to your family? >> that's a very sensitive question, too sensitive to answer. >> i'm taking it all for me. kids, you're on your own. guys, thanks very much. >> that is a dangerous and growing inequality and lack of upward mobility that has jeopardized middle class america's basic market, that if you work hard you have a chance to get ahead. >> president obama this week blasting income inequality, but are his...
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tax down to five percent, the personal income tax down to five percent, make the capital gains tax zero, take the payroll tax and bring it down for the employee and the employer. without bringing any new money to detroit, just leaving money in detroit is over a billion dollars that would stimulate detroit's economy. >> basically a flat tax but flat nonetheless. >> absolutely. flat and very low. we also look at regulations and try to get rid of the owner's regulations that's making it expensive for city government and for businesses to locate in detroit. we think if you combine all of this, that it would be the model for how you would rescue cities across the country but any impoverished area. we have impoverished areas in eastern kentucky. we think this same plan would rescue them and parts of louisville and other major cities. >> maybe the country while you're at it. we have had five years of spread the wealth. you didn't build that. share share economics. where has obama failed detroit? >> here's the problem. the president says let me tax houston, send it to washington, then i'll pass
tax down to five percent, the personal income tax down to five percent, make the capital gains tax zero, take the payroll tax and bring it down for the employee and the employer. without bringing any new money to detroit, just leaving money in detroit is over a billion dollars that would stimulate detroit's economy. >> basically a flat tax but flat nonetheless. >> absolutely. flat and very low. we also look at regulations and try to get rid of the owner's regulations that's making...
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when you increase tax rates on them you don't get that capital. all that money that rick is talking about that needs to be spent, invested into new businesses. that's the genesis of economic growth. capital investments. >> while small businesses are getting hurt, the big businesses have been doing fine. in fact, look what happened with the obama recovery compared to the bush expansion. the top one percent, we're hearing a lot about them, they had an expansion of 65% during bush. during the obama so called recovery they got 93%. so the rich have all these special deals which is helping them get more money while the poor are losing. >> i hear what you are saying. here's the thing. we see time and again these poll significances say we do want pro growth economic policies but they show up in washington d.c. and i think they got some kind of stockholm syndrome where they do their krony capitalism to redistrict and that doesn't work. mike is right. all new job creation over the last decade or so comes from the small business startups and, boy, they're g
when you increase tax rates on them you don't get that capital. all that money that rick is talking about that needs to be spent, invested into new businesses. that's the genesis of economic growth. capital investments. >> while small businesses are getting hurt, the big businesses have been doing fine. in fact, look what happened with the obama recovery compared to the bush expansion. the top one percent, we're hearing a lot about them, they had an expansion of 65% during bush. during...
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lowering their taxes if. i was doing was corporate shill corporate shill want to own one and then on top of that he has the i when i was talking about assaulting the mandatory minimum drug on top of the corporations just pop of that he has just love a libertarian senator who rails against the war on drugs and talks about bringing blondes out of poverty corporations love that top of that you know go it in the say let's have more corporate tax breaks and let's have more tax yes for rich people on top of that he's saying oh and by the way the people who are unemployed after after twenty six weeks. now is the time i was there and all and i know you believe i know you hate freedom but here's the thing is that people in the united states need freedom and the thing that you know the only way you're going to have your activity somebody is no more free when they're unemployed and they lose their unemployment benefits say your definition of freedom well i'll tell you what's my definition of freedom and that's your defi
lowering their taxes if. i was doing was corporate shill corporate shill want to own one and then on top of that he has the i when i was talking about assaulting the mandatory minimum drug on top of the corporations just pop of that he has just love a libertarian senator who rails against the war on drugs and talks about bringing blondes out of poverty corporations love that top of that you know go it in the say let's have more corporate tax breaks and let's have more tax yes for rich people on...
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when obama inherited the office, rich people were getting big tax breaks. >> you mean the tax breaks that b obama kept? >> yes. >> now they're not is what you're saying? >> yes, they took the tax breaks away. >> how do you explain the top 1% is outpassing by seven times what the lower 99 are making? >> here's exactly what obama -- >> believe it or not, president obama has actually widened the income gap but in a good way, bob, in a good way, because the 1% is going up, 34%, 99%, 4%, but they're going up, so that's a good thing. incoming equality is a misnomer. if the rising tide is rising all boat, raising all boats, that's a great thing. >> how can you say 15 years the top 1% increase of income take home pay is 247% and middle clashgs over the same 15 years, is 15%? you're saying that's equal? >> he's saying the numbers are rising up and that's good. >> it's better for everyone when this happens. >> when the rich people get richer? >> and the poor people get richer, yes. >> before you continue, let me get greg in here first. because you earlier were talking -- >> this argument about
when obama inherited the office, rich people were getting big tax breaks. >> you mean the tax breaks that b obama kept? >> yes. >> now they're not is what you're saying? >> yes, they took the tax breaks away. >> how do you explain the top 1% is outpassing by seven times what the lower 99 are making? >> here's exactly what obama -- >> believe it or not, president obama has actually widened the income gap but in a good way, bob, in a good way, because the...
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because later on this afternoon in "street signs, reque signs," wer big companies, not just in time for tax season, but one you'll want to put on your radar. back to you. >> all right. one stock to watch is clearly twitter. we're looking at the highest levels since the company went public. $52.59, off slightly from the level. but we'll talk more about why twitter is behaving so well in just a moment. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ thaso ally bank has a puts more that won't trap me in a rate. that's correct. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd.
because later on this afternoon in "street signs, reque signs," wer big companies, not just in time for tax season, but one you'll want to put on your radar. back to you. >> all right. one stock to watch is clearly twitter. we're looking at the highest levels since the company went public. $52.59, off slightly from the level. but we'll talk more about why twitter is behaving so well in just a moment. the american dream is of a better future, a confident retirement. those dreams,...
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trace gallagher has the story. >> reporter: the tax is called a reinsurance fee. it's on nearly every health plan for the first three years, meant to raise about $25 billion over the three years to help pay for people with pre-existing conditions. if the change is approved nobody would be exempt next year. in 2015 and 2016 groups that act as their own insurance companies and their own claims processors would be exempt to unions that self-insure would greatly benefit. republican senator orin hatch says it certainly looks like the obama administration is looking at a special deal for unions which is deeply concerning given the problems that all americans are facing due to obama care. now the unions argue this is not aimed at them. it's not nearly enough. the laborers union says, again quoting, as the new regulations offer no substantive relief for our health care plan the laborers union will continue to look for opportunities to fix this egregious tax on our members and their families. remember, the unions fought to help the president get elected and fought to pass
trace gallagher has the story. >> reporter: the tax is called a reinsurance fee. it's on nearly every health plan for the first three years, meant to raise about $25 billion over the three years to help pay for people with pre-existing conditions. if the change is approved nobody would be exempt next year. in 2015 and 2016 groups that act as their own insurance companies and their own claims processors would be exempt to unions that self-insure would greatly benefit. republican senator...
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the federal gas tax -- let's talk about one tax. the federal gas tax. it goes to the highway trust fund. it hasn't gone up in 20 years. but the cost of road repair and road construction has gone up 55%. >> you don't think a lot more people would drive? >> i think that the gas tax -- >> you think just because it hasn't been touched for 20 years -- >> it is declining revenue source because our cars are more fuel efficient -- >> what about -- >> that's not what we're talking about, we're talking about e thing -- >> no, no, no, that's part of it -- >> you need more money, you have other resource, why to you need more money? >> you do need more because since 2008, the general fund has contributed $41 billion to the federal highway trust fund. you're asking people, you're basically -- drivers are not paying their way -- >> wait, let me just finish one thing -- >> wait, let me -- >> i pay 12 bucks a day. i'm not using up -- >> you don't know that for a fact. we are not paying -- >> so you are for what this congressman -- you're agreeing with a guy who has a bi
the federal gas tax -- let's talk about one tax. the federal gas tax. it goes to the highway trust fund. it hasn't gone up in 20 years. but the cost of road repair and road construction has gone up 55%. >> you don't think a lot more people would drive? >> i think that the gas tax -- >> you think just because it hasn't been touched for 20 years -- >> it is declining revenue source because our cars are more fuel efficient -- >> what about -- >> that's not what...
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because they will trigger taxes, tax penalties on employers and individuals in those 34 states that have refused to establish an exchange and a number of those employers and individuals, including two state attorneys general, 15 indiana school districts and a dozen more private employers and private citizens have filed suit. four different lawsuits. in fact one of them will have oral arguments this afternoon in washington, d.c. there is judicial remedy for some of these abuses. >> chair now recognizes the gentleman from new york. mr. nadler. >> thank you, mr. chairman. professor rosenkranz has written in the "wall street journal" an oped piece abraham lincoln would not approve. that you comment on that, lincoln would disapprove? >> i read that article with some amusement, i have to say, professor rosenkranz. i think that president lincoln would chuckle at the notion that there is an equation between suspending the writ of habeyuss corps us with a temporary delay in the implementation of regulation that is part of a very complex new law, which is something that happens under all admi
because they will trigger taxes, tax penalties on employers and individuals in those 34 states that have refused to establish an exchange and a number of those employers and individuals, including two state attorneys general, 15 indiana school districts and a dozen more private employers and private citizens have filed suit. four different lawsuits. in fact one of them will have oral arguments this afternoon in washington, d.c. there is judicial remedy for some of these abuses. >> chair...
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free zones were not or that's not true or he were taxed might already taxes him we're going to talk about unemployment here's the thing he's basically cutting taxes in those areas where they haven't had one ride tracks tax breaks for corporations ever since you know reagan came into office it doesn't. you're the last you said you want to have it was not trying to get rid of all the taxes he's trying to lower them to five percent for personal and corporate taxes which is the same this would save one week one of them for the middle seventy four percent down to twenty eight percent a year but the thing is and it exploded the deficit it's only happening in luxor is what they have been over twelve percent unemployment rate so we're talking about highly distressed areas wouldn't you like to see tax cuts go at least to those areas where people are hurting the most where unemployment is the highest tax cuts that have not worked so we've got a policy that for thirty two years we've tried over and over and over again every time we try it it makes things worse and you say oh yes let's do more
free zones were not or that's not true or he were taxed might already taxes him we're going to talk about unemployment here's the thing he's basically cutting taxes in those areas where they haven't had one ride tracks tax breaks for corporations ever since you know reagan came into office it doesn't. you're the last you said you want to have it was not trying to get rid of all the taxes he's trying to lower them to five percent for personal and corporate taxes which is the same this would save...
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it notes expiring tax provisions , that more than 60 tax provisions are set to expire at year's end. also on thatalso on that my to-s the medicare reimbursement for doc there's. --for doctors. this first session of the hundred 13th congress passing under -- enacting just under 60 pieces of legislation. carl is up from kansas city, missouri on our lines for democrats. good morning. i am a liberal democrat from kansas city, missouri and i want to say a couple of things real quick. the media has gotten 80% of -- 40% of americans think he is a communist from kenya. and obama is a moderate republican. he is lower taxes for the very rich when they were supposed to be temporary. but because of clinton's surplus they have extended that. he got caught in an economic bind and he helped out the bankers. what he is doing with the insurance company are trying to do is trying to use free enterprise to regulate and turn the insurance companies who, by andway, are scam artists, turned them into a regulated utility and set some rules for the game and all the subsidies are going to the insurance compa
it notes expiring tax provisions , that more than 60 tax provisions are set to expire at year's end. also on thatalso on that my to-s the medicare reimbursement for doc there's. --for doctors. this first session of the hundred 13th congress passing under -- enacting just under 60 pieces of legislation. carl is up from kansas city, missouri on our lines for democrats. good morning. i am a liberal democrat from kansas city, missouri and i want to say a couple of things real quick. the media has...
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tax senate democrats are going on cuts to providers. in one release mark pryor release said pryor's deciding vote for obama care cut from medicare including nearly 5.4 billion collectly from arkansas. it's a familiar line of attack that was litigated and litigated and litigated and discredited in the last election. >> when congressman ryan looked into the camera and attacked president obama's medicare savings as "the biggest coldest power play," i didn't know whether to laugh or cry. that $716 billion is exactly to the dollar the same amount of medicare savings that he had in his own budget. >> that's always been a problem for republicans on this line of attack. house republicans tell us that they are not looking at the medicare attack line. they want to continue to highlight individual stories when it comes to health care. stories about canceled plans or higher costs. here's what we know they are not going to do. they are not going to walk away from the issue. it's too potent of an issue for the base and what they believe swing voter c
tax senate democrats are going on cuts to providers. in one release mark pryor release said pryor's deciding vote for obama care cut from medicare including nearly 5.4 billion collectly from arkansas. it's a familiar line of attack that was litigated and litigated and litigated and discredited in the last election. >> when congressman ryan looked into the camera and attacked president obama's medicare savings as "the biggest coldest power play," i didn't know whether to laugh or...
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with the smaller tax base, city leaders did not reduce the budget. under pressure from labor unions, they never reduced things like health benefits or bonuses. when the budget was in the red the borrowed. judge steven rhodes wondered out loud why this hadn't happened sooner as he made the historic ruling that detroit is eligible for chapter 9 bankruptcy. now pension, for more than 23,000 firefighters, police and other municipal employees are facing the potential of dramatic reductions. >> we're trying to be very thoughtful, measured and humane about what we have to do. what i can tell them is that the reality is there's not enough money to address the situation no matter what we do >> reporter: the american federation of state, county and municipal employees immediately filed a notification of appeal, noting that there is no insurance to act as a bock stop for city pensioners, they just lose money. also noting that judge rhodes determined the city did not bargain with pension representatives in good faith but there was no practical way to do so. >> w
with the smaller tax base, city leaders did not reduce the budget. under pressure from labor unions, they never reduced things like health benefits or bonuses. when the budget was in the red the borrowed. judge steven rhodes wondered out loud why this hadn't happened sooner as he made the historic ruling that detroit is eligible for chapter 9 bankruptcy. now pension, for more than 23,000 firefighters, police and other municipal employees are facing the potential of dramatic reductions. >>...
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i can't think of another corporation out there that might need another tax break. but you know what we're talking about over on the right, we're convincing americans that it's those damn food stamps. they're the problem. they're the takers, those fat, poor people. how come they can't find work? it's their fault. they're lazy. and then, of course, when it comes to the big takers, it's these guys. these guys, limbaugh and o'reilly, the biggest conservative voices and media profiles out there, they actually think that poor people in this country make too much. and if they are poor, it's only their fault. their fault. merry christmas. get your cell phones out. i want to know what you think. tonight's question. do republicans want to make poor people poorer? text a for yes, b for no. to 67622. you can always go to our blog at ed.msnbc.com. we'll bring the results later on in the show. my dad used to tell me that money does funny things to people. en, son, don't of forget where you came from. it's the best advice i ever had. i would like to know if mr. o o'reilly could t
i can't think of another corporation out there that might need another tax break. but you know what we're talking about over on the right, we're convincing americans that it's those damn food stamps. they're the problem. they're the takers, those fat, poor people. how come they can't find work? it's their fault. they're lazy. and then, of course, when it comes to the big takers, it's these guys. these guys, limbaugh and o'reilly, the biggest conservative voices and media profiles out there,...
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taxes will go up because the bill will be massive. they will force young people to buy in and employed people to pay more, period. they have to. >> penny? >> under the existing system we were paying for the young and healthy to get into a car wreck and go into the mrnl room. taxpayers were already paying for it. for them to have affordable health care at a base minimum of what the package could be, some of it could be $50. it will be able to lessen the burden. >> a young person would rather have catastrophic care with with a high deductible because odds are they aren't going to get sick at a young age. if they got cancer or this a car accident they would be covered. this doesn't give them the option. >> it does, if they sign up. >> no, it doesn't. >> if they sign up at the base level, yes. they are able to have catastrophic coverage. >> why are people losing coverage they like? it doesn't meet the, quote standards in the law. >> there is an improved standard. >> you have to take the plan -- >> you're making my point. lots of people ga
taxes will go up because the bill will be massive. they will force young people to buy in and employed people to pay more, period. they have to. >> penny? >> under the existing system we were paying for the young and healthy to get into a car wreck and go into the mrnl room. taxpayers were already paying for it. for them to have affordable health care at a base minimum of what the package could be, some of it could be $50. it will be able to lessen the burden. >> a young...
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i will postpone the tax one year for small businesses. he is postponing taxes. since i have no life i have read a obamacare. i do not see that in their where the president, we gave him the authority to postpone a tax but he does it. if he has the legal authority to do that, which i doubt, but he used that authority, what is to prevent him from just going and looking at the irs code which is a mess. i do not know any american who thinks the irs code is a good bill. but rather than fix it, we just make it bigger every year. so the president goes to the irs code and says this group of businesses, they are just having a bad year. like green businesses or we could use the energy companies on the other end. the oil and gas industry. i will postpone paying income tax for year. because i said so. dotake this group and something similar. tweak their tax rather than pay 38%. they will pay 20% for the next year. it seems to me if he has the legal authority to amend taxes which the affordable care act is a tax according to the supreme court. what is to prevent him from just
i will postpone the tax one year for small businesses. he is postponing taxes. since i have no life i have read a obamacare. i do not see that in their where the president, we gave him the authority to postpone a tax but he does it. if he has the legal authority to do that, which i doubt, but he used that authority, what is to prevent him from just going and looking at the irs code which is a mess. i do not know any american who thinks the irs code is a good bill. but rather than fix it, we...
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don't forget how we pay for those benefits through payroll taxes. how crazy is this program? pretax employers for hiring them and pay people not to work? is one of the craziest programs. >> i think there is some truth to your argument that may come as a surprise but there are also factors to be weighed entire sectors were wiped out in the last recession so it is hard to find suitable employment. >> gives the economy and adapt. >> sometimes you need more time to do that and that is why you get more time. >> died nine weeks? , 99 weeks? jedi that should do it if you cannot block did you go work at mcdonald's sadek but they're not be anymore because we will raise the battle waged. [laughter] dennis: it is set to stop talking but i could be a lot of a job here soon. nice job today. what you see it? the question of that i should the government extend unemployment benefits even if that adds to of employment? log on and we will shut -- share the results at the end of the show. more examples of past government god too far? have the problems plaguy obamacare and the white house said t
don't forget how we pay for those benefits through payroll taxes. how crazy is this program? pretax employers for hiring them and pay people not to work? is one of the craziest programs. >> i think there is some truth to your argument that may come as a surprise but there are also factors to be weighed entire sectors were wiped out in the last recession so it is hard to find suitable employment. >> gives the economy and adapt. >> sometimes you need more time to do that and...
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if tax breaks help revitalize a city, what does that tell you? tax increases and increase regulations strangle a city and makes it impossible for it to grow. detroit is rock bottomless. if there's something you can kweez sk squeeze out of that city, you're going to do it. it's time for them to get out and let the republicans have a shot. >> all democrats there were not -- there were a lot of them -- >> they're all in jail, bob. >> if this works and i pray it does work, i'd be willing to say, you're right. low taxes and low regulations help but i'll be the first one to say it. it's a good idea for democrats to stand back and not criticize this right away and say what's our other choice here? >> the republican obama care. >> the free trade zones in texas. >> very quickly, kimberly, there's a bunch of other cities, in fact, the state -- the whole state of illinois is probably in worst shape than the city of detroit. >> that's why i think this is a great platform. it does show he has higher aspirations but i like a man of idea and vision and purpose.
if tax breaks help revitalize a city, what does that tell you? tax increases and increase regulations strangle a city and makes it impossible for it to grow. detroit is rock bottomless. if there's something you can kweez sk squeeze out of that city, you're going to do it. it's time for them to get out and let the republicans have a shot. >> all democrats there were not -- there were a lot of them -- >> they're all in jail, bob. >> if this works and i pray it does work, i'd be...
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because those tax credits will trigger tax penalties on employers and individuals in those 34 states that have established the exchange and a number of those employers and individuals including the two states attorneys general in the 15 indiana school districts and a dozen or more private employers and private citizens have filed suit. one of them will have disasters that here in washington dc said there is a remedy for some of these abuses. >> thank you director. i yield back. >> thank you mr. chairman. mr. lazarus, professor rosenkranz has written in "the wall street journal" op-ed pieces abraham lincoln wouldn't approve of the delay and the employer mandate and can extend the habeas corpus. can you comment on the claim that they would disapprove and what about the conscientious decision of habeas corpus by lincoln? >> i read it up with some amusement. i think president lincoln would chuckle between suspending the writ of habeas corpus and the most fundamental guarantee freedom in the whole system is a temporary delay in the implementation of regulation as a part of a very complex
because those tax credits will trigger tax penalties on employers and individuals in those 34 states that have established the exchange and a number of those employers and individuals including the two states attorneys general in the 15 indiana school districts and a dozen or more private employers and private citizens have filed suit. one of them will have disasters that here in washington dc said there is a remedy for some of these abuses. >> thank you director. i yield back. >>...
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more of these for profit schools school choice they call it really it's taxpayer funded vouchers your tax dollars leaving the public system going to private schools with sometimes very little or minimal standards and very little on outcomes so really taking away from public education and putting into private entities another piece of alex upcoming years agenda seems to be stripping environmental regulations you know our protections from polluters yeah you know when i went i'll never forget they had a book they gave us fifty reasons why increased levels of c o two are good for you they gave us a very good seriously seriously by a scientist and this is just a given part of the agenda it's taking away regulation that protect the public. metal standards and continues to make it easier to pollute and harder to have consumer protections for people especially who've been harmed by environmental problems it's extraordinarily they want to reduce patient rights and patient protections how to do this again it goes back to more anti-consumer provisions where you're losing your ability to have protect
more of these for profit schools school choice they call it really it's taxpayer funded vouchers your tax dollars leaving the public system going to private schools with sometimes very little or minimal standards and very little on outcomes so really taking away from public education and putting into private entities another piece of alex upcoming years agenda seems to be stripping environmental regulations you know our protections from polluters yeah you know when i went i'll never forget they...
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there are no tax increases here. and point number three, we are finally starting to deal with auto pilot spending. the mandatory spending that has not been addressed by congress for years. this isn't easy. this is the first divided budget agreement since 1986. the reason we haven't done a budget agreement when both houses were controlled by other parties is because it is not easy to do. so we are not going to get everything we want, and she won't get everything she wants [ inaudible question ]. >> i think we will pass this to the house and we'll go first given our schedules in the house, we will post this on our website today, this evening and we intend to bring it to the house floor later on this week. i have every reason to expect great support from our caucus because we are keeping our principals. the key is here nobody had to sacrifice their core principles. our principles are don't raise taxes an reduce the deficit. and we have concerned members about defense. the next hit from the sequester would hit solely on
there are no tax increases here. and point number three, we are finally starting to deal with auto pilot spending. the mandatory spending that has not been addressed by congress for years. this isn't easy. this is the first divided budget agreement since 1986. the reason we haven't done a budget agreement when both houses were controlled by other parties is because it is not easy to do. so we are not going to get everything we want, and she won't get everything she wants [ inaudible question ]....
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no new taxes. >> if you liked your doctor, you will be able to keep your doctor period. it's a punchline. this is definitely barack obama's read my lip s moment. >> let me get emily in here to defend whether or not you think it is that serious of a moment. whether we still remember that. >> look, i think today is a rebrand. today is a hit restart button on it. since the health care law started to go into effect. the website was not good but it is not the law. there are other pieces that have gone into effect like being able to get new coverage. young people being able to stay on their parent's coverage. >> yeah, but today republicans agreed on. those are not the things that we are hearing about that are problems with the law itself. but now the president is going to come forward during the month of december. 15 minutes from now we will see what that is about. have a great day. >> thank you. >> the white house seems to be running out of excused for the problems with the website. >> where is the accountability? will somebody get fired over this? >> it is impossible to do s
no new taxes. >> if you liked your doctor, you will be able to keep your doctor period. it's a punchline. this is definitely barack obama's read my lip s moment. >> let me get emily in here to defend whether or not you think it is that serious of a moment. whether we still remember that. >> look, i think today is a rebrand. today is a hit restart button on it. since the health care law started to go into effect. the website was not good but it is not the law. there are other...
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it seems to me that he has the authority to amend the taxes which the affordable healthcare tax is according to the supreme court what is to prevent him from just amending the any tax to his liking. mr. turley weigh in on this if you would. >> i have to agree first of all oon the remark about article on, as i said before it is true that they are all equal branches, but the framers spent most of their time on congress because it is something harder than the madisonian system. it's where the magic happens and that is to take those interests that the strike countries and turned them into a majoritarian compromise. when we get to the issue of taxes, that is one of the most divisive issues facing the country. so when someone comes before the congress and says i want my group to be excluded, it obviously produces a great deal of heat. some people say how about my group, how long should this apply? it is the most divisive issue raised in congress and that is why it was given to the congress so that type of issue would be subject to the transformative process of the legislation. >> so do you belief
it seems to me that he has the authority to amend the taxes which the affordable healthcare tax is according to the supreme court what is to prevent him from just amending the any tax to his liking. mr. turley weigh in on this if you would. >> i have to agree first of all oon the remark about article on, as i said before it is true that they are all equal branches, but the framers spent most of their time on congress because it is something harder than the madisonian system. it's where...